STX

​The JV Uz-Kor Gas Chemical in October will complete the construction of the Ustyurt gas chemicals complex in the Karakalpakistan, Uzbekistan, the chief specialist of the department of the uniform technical policy of Uzbekneftegas, S. Berdyev, said.
The complex will be launched in mid October. The Ustyurt gas chemicals complex will become the largest enterprise in the gas chemicals sector in the Central Asia.
In February 2008 Uzbekneftegas and a consortium from Korea Kor-Uz Gas Chemical Investment founded on the parity basis the JV Kor-Uz Gas Chemical Investment for the construction of the Ustyurt gas chemicals complex on the basis of the Surgil deposit. Currently the consortium comprises Kogas, Lotte and STX Energy.

Launch of a gas chemical complex will provide annual production of 4.5 billion cubic meters of natural gas, 387 thousand tons of high density polyethylene, 83 thousand tons of polypropylene, about 100 thousand tons of pyrolysis gasoline from2016. In addition, more than a thousand new jobs will appear at the complex.

There will be held a great ceremony of the start of modern gas petrochemical complex construction today in Turkmenistan. Its capacity will make up 386 thousand tons of polyethylene and 81 thousand tons of polypropylene a year, ITAR-TASS reports.
The complex of over $3.432 billion in value will be built by Japan TOYO Engineering, South Korean Consortium LG International Corporation and Hyundai Engineering Corp. Ltd.

The consortium of Rosneft and Gazprombank will obtain Zvezda shipyard in the Far East (which will construct equipment for the Arctic shelf development) as it was supposed. Besides, the consortium will obtain at least two shipyards in the Far East. The united shipbuilding corporation (OSK) which includes all three enterprises can become the member of the consortium. Besides, Rosneft is interested in the large shipyard of OSK (Kola Peninsula).

The Rosneft’s Head Igor Sechin has actively got into gear of the United Shipbuilding Corporation (OSK). The current criticism of OSK has started from him – against the background of this, the discussion of the change of the corporation’s Head became more active. Now OSK calculates on large-scale orders from Rosneft too, connecting resumption of its largest projects (construction of new shipyard in Kotlin and Zvezda in the Far East) with them. Igor Sechin has already raised a question about the situation in OSK at the level of Vladimir Putin; the meeting will take place in his office on May, 6. Some sources of the Kommersant expect to get an announcement of personnel replacements that time.
The General Director of the Baltic shipbuilding plant (a part of OSK) Alexander Voznesensky stated that the project to construct New Admiralty shipyard on the island of Kotlin in Kronstadt, "might be revived".

Rosneft needs 394 units for shelf operation. The United shipbuilding corporation (OSK) cannot guarantee readiness to construction of all equipment now, the President of Rosneft I. Sechin says to the President of Russia V. Putin. On Thursday, Rosneft negotiates in Yuzhno-Sakhalinsk with the companies ExxonMobil Development, the Korean STX and OSK about development of cooperation in the Far Eastern region.

The will be companies from China and South Korea will help it to develop the Arctic shelf.
Rosneft has found new partners among the Asian companies. Over the last few days the head of Rosneft, I. Sechin, has managed to visit 2 countries –South Korea and China where he held negotiations with the 5 largest Oil and Gas companies in the region. The main result was the signing of the agreement with the Chinese companies on their joint work at the shelf of the Pechora and Barents Seas. Analysts assess positively this possible cooperation and say Rosneft will open a new market for hydrocarbons sales for itself on the account of new partners and accelerate the process of the shelf development.

Samsung Engineering, GS Engineering and Hyundai Engineering (Korea) have started the active stage of the construction of the technological part of the Ustyurt gas chemicals complex in the North-West of Uzbekistan.The construction of the technological part has started, the assembly of the equipment is held, the Uzbek party is constructing the infrastructure, the works are held in conformity with the approved schedule. Read more »

The Export-Import Bank of Korea on March 26th announced about the investment of $1 bln into the gas project of the Korean companies in Uzbekistan, Dow Jones agency reports.8 Korean companies, including Korea Gas (036460.SE) and Honam Petrochemical (011170.SE) at the present time participate in the gas project of Uzbekistan (development of the Surgilsky deposit and the project of the construction of the plant) which will also be financed by Eximbank, the announcement of the State Bank of South Korea says, Regnum reports. Read more »